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841 Apperson Circle Las Vegas, NV 89123

4 Beds 2 Baths 2,352 sqft Built 1993

INVESTimate

$415,000

List Price

$1,810

$1,629 - $1,991

Rent Est.

$453,885  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1993
  • Price/Sqft : $176.45
  • 10 Days on Market
  • MLS # : 2222652
  • Updated Date : 08/17/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,352 sqft
  • Baths : 2 full
Listing Agent

The Collective Real Estate Adv

Listing Agent's Description

Beautiful Hard to find 4 Bedroom, 3 Car Garage, Single Story Home with Incredibly Serene Backyard! Located in one of the most desirable parts of Silverado Ranch with No HOA! Pride of Ownership is exhibited throughout this Home! Large Owner's Suite with Larger Walk-in Closet & Bathroom. The Backyard has a large covered patio and plenty of lush green grounds & trees to keep you cool!

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MARKET HIGHLIGHTS

  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,531
Property Tax -$253
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$166

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$415,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$17,967

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,810

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8103$1,8504$1,9955$2,200
$2,200
RENT COMPS ANALYSIS
  • 841 Apperson Circle Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,352 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,352 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.77
    •  
  • 860 Buffwood Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,469 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,469 Sqft ∙ Built 1994
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 7717 Lobella Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 2003
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 7734 Locke Haven Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1994
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 7450 Trudy Lane Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1982
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
PROPERTY LISTING DETAILS
Zarnaz Aazami-zanganeh
1.702.883.3377
The Collective Real Estate Adv
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222652
Last Updated: 08/17/2020
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